MBSL promotes business awareness in Kurunegala for SMEs

Saturday, 21 July 2012 02:38 -     - {{hitsCtrl.values.hits}}

Following the success of its IFRS and SLFRS programmes held in Colombo, MBSL continued its thrust in spearheading seminars of vital importance to the revival and development of the economy of the country. The program was conducted on 22 June 2012 at the Kandyan Reach Hotel, Kurunegala.  

The much-required programme reflected the urgent need for the business community of Kurunegala to be better prepared for the challenging business environment. MBSL thus extended its services to the rural sector to provide them with an in depth knowledge of the financial advisory and capital market services available to them.

This proposed interactive business awareness seminar entailed methods of increasing profitability in existing businesses and corporate advice to potential entrepreneurs in the area. Tips on improving the saving and deposit base of enterprises with new capital market instruments like debentures at higher returns annually, financial restructuring, project financing, methods of procuring loan facilities, facing competitive markets efficiently and effectively and the advisory services in various areas of business offered by MBSL were highlighted.

Participants from Small and Medium Enterprises, owners of existing businesses and potential entrepreneurs were the targeted audience for the proposed interactive business awareness program. The presentation was tailor made to enable them to benefit immensely from the knowledge and hands-on experience of a team of qualified experts in MBSL Advisory and Capital Market Division, who after years of experience and identification of key factors, created an itinerary to suit the specific needs of the business sector in order to help them achieve their goals.

MBSL firmly believes that this integration process will increase their accessibility to new markets, generate more inward investment and strengthen their competitiveness in the long run.

A.M.A. Cader, DGM Corporate Advisory and Capital Markets, commented: “In tough economic times, these awareness programmes come as an injection of optimism and trust in the system. Businesses still perceive the vast potential of doing business in the country. The targeted SME sector should make use of this opportunity and proceed with pursuing their interests, creating a stable and transparent cooperation framework making use of the advisory services of the bank as a guarantee for stability and prosperity in the country.”

Merchant Bank of Sri Lanka PLC., incorporated in March 1982, is the pioneer investment/merchant bank in Sri Lanka and was quoted on the Colombo Stock Exchange in 1991. The bank’s largest shareholder is the Bank of Ceylon, which holds a strategic stake of 72% and in 2005 entered into a strategic alliance with SBI Capital Markets Limited, which is the largest investment bank in India.

Its subsidiary companies, Merchant Credit of Sri Lanka Ltd., which has 13 branches islandwide including Jaffna, and MBSL Insurance with 55 branches, add strength and stability to its trade portfolio. In addition, MBSL holds a 29% share of Lanka Securities Pvt. Ltd.